03 June 2008
Todays NSW State Budget delivers cold hard cash for Sydneys future, according to Aaron Gadiel, chief executive of the Urban Taskforce.
Not only are we aware of the problems we have right now – Sydneys population is anticipated to grow by 1.1 million people by 2031.
This means Sydney needs 640,000 new homes and extra road and rail capacity to match.
Todays budget shows there is a light at the end of the tunnel with cold hard cash for major transport improvements.
The Budget makes a down payment of $106 million on the new $12 billion North West metro line.
This creates real confidence that the North West metro will commence construction by the promised 2010 start date.
The North West Metro connects Sydneys central business district to the North West growth centre – a 10,000 hectare area in Baulkham Hills, Blacktown and Hawkesbury council areas. Ultimately it will have 66,000 new homes a city the size of Wollongong.
Todays budget commits $64 million for the 13 kilometre $1.36 billion South West Rail Link. The South West Rail Link is a 13 kilometre line connecting the South West growth centre to the CityRail system. This 17,000 hectare area in the Liverpool, Camden and Campbelltown council areas will ultimately have 115,000 new homes a city the size of Canberra.
To help makes these new homes possible, Camden Valley Way needs to be upgraded (between Cowpasture Road at Edmondson Park and Narellan Road, Narellan) to a dual carriage way with two lanes going each way, Mr Gadiel said.
We also welcome the $51 million committed to upgrades of the South Wests road network. This investment is crucial to making the South West and integrated part of the metropolitan area.
The funding includes:
- $6 million to widen Camden Valley Way to four lanes between Bernera Road and Cowpasture Road;
- $12 million to widen Cowpasture Road to four lanes between the M7 Motorway and North Liverpool Road.
- $13 million to widen Cowpasture Road to four lanes between Camden Valley Way and Main Street;
- $15 million to widen Hoxton Park Roads to four lanes between Banks Road and Cowpasture Road; and
- $5 million to plan for the upgrade of Camden Valley Way between Cowpasture Road and Narellan Road.
Mr Gadiel said that funding for planning work also was a good sign that more infrastructure announcements were on the way.
Were pleased to see a commitment of:
- $30 million for planning work on a Western Sydney metro rail line from Parramatta to Sydneys central business district;
- $2 million for further planning work on the M4 extension; and
- $500,000 for planning a motorway linking the F3 Freeway to the M2
In a very positive sign for major investors in NSW, the Department of Planning will increase the staff involved in major development assessment and strategy implementation from 161 to 198, Mr Gadiel said.
Were very pleased at this high-level recognition of the importance of major projects.
The Urban Taskforce is a property development industry group, representing Australias most prominent property developers and equity financiers.
